Ulta Beauty (NASDAQ:ULTA) Price Target Lowered to $380.00 at Bank of America

Ulta Beauty (NASDAQ:ULTA) had its price target cut by investment analysts at Bank of America from $475.00 to $380.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the specialty retailer’s stock. Bank of America‘s price objective points to a potential upside of 6.30% from the company’s current price.

A number of other equities research analysts also recently issued reports on ULTA. Loop Capital increased their price target on Ulta Beauty from $450.00 to $480.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. DA Davidson raised their price target on Ulta Beauty from $435.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer upped their price objective on shares of Ulta Beauty from $505.00 to $515.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $500.00 price objective on shares of Ulta Beauty in a research note on Monday, March 10th. Finally, StockNews.com upgraded shares of Ulta Beauty from a “sell” rating to a “hold” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $431.13.

Ulta Beauty Price Performance

ULTA stock opened at $357.48 on Friday. Ulta Beauty has a fifty-two week low of $309.01 and a fifty-two week high of $544.36. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.89 and a beta of 1.34. The business’s fifty day moving average price is $385.01 and its two-hundred day moving average price is $386.80.

Ulta Beauty (NASDAQ:ULTA) last released its quarterly earnings results on Thursday, March 13th. The specialty retailer reported $8.46 EPS for the quarter, topping analysts’ consensus estimates of $7.13 by $1.33. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.47 billion. Ulta Beauty had a net margin of 10.58% and a return on equity of 51.95%. Ulta Beauty’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $8.08 earnings per share. Research analysts expect that Ulta Beauty will post 23.96 EPS for the current year.

Institutional Trading of Ulta Beauty

Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Investment Partners LLC lifted its position in shares of Ulta Beauty by 3.9% in the 4th quarter. Cornerstone Investment Partners LLC now owns 665 shares of the specialty retailer’s stock worth $289,000 after purchasing an additional 25 shares during the period. RWA Wealth Partners LLC raised its stake in Ulta Beauty by 1.5% during the fourth quarter. RWA Wealth Partners LLC now owns 1,867 shares of the specialty retailer’s stock worth $812,000 after buying an additional 28 shares during the last quarter. Lido Advisors LLC lifted its holdings in Ulta Beauty by 5.0% in the fourth quarter. Lido Advisors LLC now owns 626 shares of the specialty retailer’s stock valued at $272,000 after buying an additional 30 shares during the period. Colonial Trust Co SC boosted its position in Ulta Beauty by 36.9% during the fourth quarter. Colonial Trust Co SC now owns 115 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 31 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its holdings in Ulta Beauty by 0.5% during the 4th quarter. Stonegate Investment Group LLC now owns 6,623 shares of the specialty retailer’s stock worth $2,881,000 after acquiring an additional 34 shares during the period. 90.39% of the stock is currently owned by institutional investors.

About Ulta Beauty

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.